Macro Prudential Policies from a Micro Prudential Angle:

The standard macro(prudential) models focus on externalities and treat all prudential instruments as alternative, but equivalent, forms of Pigouvian taxes. This paper explicitly models individual banks' risk choices and shows that different prudential instruments affect banks' risk-taking...

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Bibliographische Detailangaben
1. Verfasser: Cordella, Tito (VerfasserIn)
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: Washington, D.C The World Bank 2013
Online-Zugang:kostenfrei
Zusammenfassung:The standard macro(prudential) models focus on externalities and treat all prudential instruments as alternative, but equivalent, forms of Pigouvian taxes. This paper explicitly models individual banks' risk choices and shows that different prudential instruments affect banks' risk-taking incentives differently. Thus, conflicts may arise between the micro and macro prudential stance
Beschreibung:1 Online-Ressource (9 p)
DOI:10.1596/1813-9450-6721